Tom Hicks and George Gillett Jnr won't let go easily
With 10 days before RBS’ loan is due to be repaid, Liverpool’s boardroom has once again ignited in turmoil in public.
According to the official website, Tom Hicks and George Gillett both attempted to remove two board members Ian Ayre and chief executive Christian Purslow, attempting to block sale discussions with two unnamed groups. The owners cannot remove chairman Martin Broughton under the terms of the RBS loan.
Currently both Hicks and Gillett are in a minority on the Liverpool board, despite being the financial owners. However, in approximately 10 days time, if they default on their £280+M loan with RBS, then they will no longer be owners.
The official statement from LFC, posted late last night, reads:
The Board of Directors have received two excellent financial offers to buy the Club that would repay all its long-term debt. A Board meeting was called today to review these bids and approve a sale. Shortly prior to the meeting, the owners – Tom Hicks and George Gillett – sought to remove Managing Director Christian Purslow and Commercial Director Ian Ayre from the Board, seeking to replace them with Mack Hicks and Lori Kay McCutcheon.
This matter is now subject to legal review and a further announcement will be made in due course.
Meanwhile Martin Broughton, Christian Purslow and Ian Ayre continue to explore every possible route to achieving a sale of the Club at the earliest opportunity.
Within an hour both Hicks and Gillett had responded suggesting that the offers for the club were
‘too low’
and did not reflect their
‘substantial investment’
Liverpool fans cannot allow Hicks and Gillett’s involvement with the club to continue beyond the next 10 days. If they successfully remove board members they will find some mug to allow them to refinance.
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I think Apollo would win. Clubber is all talk.
This is a call to arms, an SOS from 3 members of the Board. Will the fans stand up to be counted ???
This should be the beginning of the end of our current owners. It will be a beautiful thing if they walk away with nothing, better still if at a massive loss. Now we need to pray that our hopefully new owners have the money to compete , starting with the squad and a stadium
What investment? They created kop holdings to borrow against the club! They didn’t invest their own money.